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Wednesday Afternoon Business Brief

December 12, 2012, 1:20 PM

Wednesday Afternoon Business Brief

Stocks have extended a recent winning streak. Investor sentiment has been helped apparently by the latest statement from the Federal Reserve, which aims to bring down unemployment.

  • The Federal Reserve pledges to spend $45 billion a month with the goal of keeping long-term interest rates low. And it says it plans to keep a key short-term rate near zero until unemployment drops below 6.5 percent.
  • European Union finance ministers have moved closer to creating a single supervisor for their banks. This, after France and Germany said they had largely patched up their differences over the new body's powers.
  • American Airlines is changing the way it charges you to fly. American will charge up to $88 more per round trip for passengers who want a basic ticket that includes checking baggage or changing the reservation later on. Currently the airline levies separate fees for those and other extras for everyone except premium passengers.
  • The person who led the federal government's response to the oil spill in the Gulf of Mexico in 2010 says she will leave her post at the end of February. A successor was not immediately announced for Jane Lubchenco, who is administrator of the National Oceanic and Atmospheric Administration.

You can find more business news on the Back to Business page of KELOLAND.com.

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